21 – Gen Y Finance Guy Dominic ‘D’ Sells Options
01 Jun, 2015 / By: Brandon Clay
Talking understanding risk and options with the Gen Y Finance Guy Dominic ‘D’.
Dominic ‘D’ , or ‘Dom’ for short is a smart and dedicated, part-time trader. He has a finance background and even traded professionally for a time. But now he’s focused on trading just his personal account on the side. He’s grown his account from a modest sum and now has a net worth of over $200,000 – and he’s only in his 20’s.
Dom’s story is encouraging to some of the younger traders among us – he even targets a younger audience at his very active and entertaining blog, GenYFinanceGuy.com. It was a fun and practical conversation.
- Ways new traders can make money with options
- Don’t trade if you don’t understand the risk
- Stay consistent, don’t jump around in different asset classes and techniques
- Covered call trading method
- Duration over direction
From the Trader’s Story
“You either need to figure out how you are going to make money and understand the risk you are taking, or you need to stay out of the markets”
“Choose an asset class and strategy that fits your personality and risk profile. And stick with it long enough to get through the dip. Don’t stop before you strike gold”.
“Manage risk at order entry”.
Newer Trader Resources
Other Resources Mentioned by Trader
Think or Swim (TD AmeriTrade)
Favorite Trading Books